Introduction

BaseX: A Low-Cost, Near-Zero Slippage AMM and Liquidity Layer

BaseX is building on the foundation of Thena, a DEX that optimizes the benefits of liquidity providers, the fees and slippage of traders, while relieving protocols of the burden of inflating their own native protocol tokens and mutually growing in the Base Chain ecosystem together.

Solidly is an automated market maker (AMM) and a liquidity layer, originally built by Andre Cronje on Fantom, that offers low-cost, near-zero slippage transactions for highly correlated and uncorrelated tokens. However, many Solidly fork projects, including Solidly itself, failed to deliver longevity and sustainability. BaseX has improved the Solidly codebase to ensure that the protocol works as intended, allowing veBXT voters to properly compensate liquidity providers for impermanent loss, while aligning with the core goals of the protocol—namely value accumulation for the BaseX DAO, which includes our ICO participants, and BXT holders.

BaseX's vision is centered around value creation, unlocking opportunities for partner protocols on Base chain to overcome the challenges of bootstrapping liquidity. In addition, we offer established tokens a sustainable solution to optimize liquidity incentives.

BaseX serves as an enabler for growth by interconnecting innovative ideas, propelling DeFi participants to unleash the full potential of DeFi on Base. Our strong commitment to decentralization, transparency, and community-driven governance is evident as we dedicate ourselves to building and refining our ecosystem. BaseX creates a robust Dex on Base, paving the way for a brighter future of collaborative DeFi union. Together, we are shaping a new DeFi era, ensuring safety and fairness throughout the ecosystem.

We will also address some of the challenges experienced by previous projects and explain our BXT improvements in the further sections.